As a component of ESG (environment, social, governance), social aspects often take a back seat. The social aspects, such as women's networks, directly add value to companies and serve as a basis for the implementation of many other improvements.

In a world shaped by environmental (E), social (S), and governance (G) challenges, the “S” in ESG is becoming increasingly important. It encompasses issues such as employee rights, diversity and inclusion, working conditions as well as supply chain management. Companies that neglect these aspects risk losing the trust of their customers, employees, and investors.

The social pillar of ESG focuses on people, who are a central factor contributing to the success of companies. Despite its high relevance, the “S” is often sidelined as it is less present in the media and difficult to measure. Furthermore, companies often miss the necessary prioritization of such topics and ideas for optimization.

Don’t forget the S in ESG – it is an important part of your sustainability improvements

However, a start can already be made with small measures. For instance, companies can get involved and support networks for women. In this way, they can help promote gender equality and create a culture of inclusion. On March 21st, we at Multiversum hosted an evening with the women’s network Panda on the topic of “How to network.” The inspiring exchange among the participants revealed that there is still a great need for action in the area of diversity across industries.

High levels of equality, diversity and inclusion strengthen all three facets of a company’s ESG activities. You are welcome to use our free Sustainability Assessment to check how well you are positioned in this respect. Click here to find out about your own sustainability performance by answering 26 questions. Based on this, you can identify specific potential for optimization across all three aspects of sustainability!

If you are interested in a more in-depth analysis of your sustainability and want to improve your ESG activities, please contact us for an appointment.

Photo by Gerd Altmann on Pixabay